CX Daily: China Moves to Raise Retirement Age to Bolster Workforce, Ease Pension Pressure

Retirement /

Cover Story: China moves to raise retirement age to bolster workforce, ease pension pressure

After more than a decade as a recurring teatime conversation topic, the delay in retirement is nearing reality in China, set to impact over 500 million workers as the country grapples with a rapidly aging population.

The five-year reform blueprint, released last month following a key Communist Party gathering, includes a commitment to raise the retirement age. According to the resolution adopted at the Third Plenum of the party’s 20th Central Committee, China will gradually increase the statutory retirement age based on the principle of “voluntary participation with appropriate flexibility.”